Skift Take
CleanJoule wants to make jet fuel from agricultural waste, while Atly is building an app that's a cross between a mapping tool and social media.
Travel Startup Funding This Week
Each week we round up travel startups that have recently received or announced funding. Please email Travel Tech Reporter Justin Dawes at [email protected] if you have funding news.
Four travel tech startups have raised $328 million in capital this week.
>>CleanJoule has raised $50 million toward development of a sustainable aviation fuel.
The round was led by the principals of Indigo Partners, with support from GenZero, Cleanhill Partners, and three airlines: Frontier Airlines, Wizz Air, and Volaris. Indigo Partners is the controlling stakeholder for Frontier and also has stakes in Wizz Air and Volaris.
The Salt Lake City-based startup said it is developing technology meant to more cost effectively produce fuel from agricultural residues and other waste biomass, contributing to an industry goal to reach net zero carbon emissions by 2050.
As part of the investment, the three airline contributors have signed contracts to purchase up to 90 million gallons of the fuel.
“Indigo Partners and its portfolio airlines are committed to decarbonizing air transportation, and the inves